Scope for BUY trades in USDCHFLike the other USD crosses, we have witnessed an extended sell-off in USDCHF too.
As you can see from the chart, USDCHF is in a support area right now. Hence traders can look for BUYs with low risk and high reward.
Potential Long entries can be taken between 0.9650-0.9690 with SL below 0.9610. TPs can be set at 0.9750,0.9800 and 0.9880 respectively.
Usdchfprediction
FURTHER SELLING POTENTIAL ON USDCHF At the moment USDCHF is sitting at critical support and is showing potential for price to retrace ( and gain bearish momentum) before making new lows. If price does indeed move bearish, we will be looking at the two levels i have marked as take profit levels. I would advise scaling out part of your position at the first take profit and allowing the rest to ride risk free.
USDCHF BUY SETUPSusdchf price breakout of a diagonal pattern.waiting for a pullback to buy ... again from my last analysis :)
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Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together.
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Disclaimer : The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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Thank you for your support!
USDCHF BUY SETUP usdchf price make a 3rd touch of the lower side of a diagonal pattern. Price is about to strat an upside move.
_________________________________________________________________________________________________________________________________________
Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together.
_________________________________________________________________________________________________________________________________________
Disclaimer : The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
_________________________________________________________________________________________________________________________________________
Thank you for your support!
USDCHF SHORT IDEAOverall this pair I believe still has further more downside potential. Now that we’ve rejected some key levels & broken trendline/structure, this makes my bias even stronger for sells on this pair.
After such a strong impulse move down. Let’s wait for price to retrace to the 50/61.8 fib level to get a retest of That broken trend-line before considering shorting this pair.
Or alternatively wait for price to break daily resistance level and grab a entry on the retest of that level for a bit safer entry.
Could USD/CHF break the consolidation area?Following its bounce off 100-day SMA, USD/CHF rises above 61.8% Fibonacci retracement of August-October rally. Intraday trading bias in USD/CHF remains neutral first as sideway trading from 1.0027 continues in the formed triangle.
Considering the pair’s recent recovery from near-term strong support, prices could retest 0.9950/60 resistance area where is located 78.6% Fibonacci level and the resistance trend line of the formed triangle. However, 200-day Simple Moving Average of 0.9952 may be should continue to act as strong upside barrier. On the upside, a clear break of 0.9978 will target 1.0027 first.
Opposite scenario is consolidation from 1.0027 might extend further through 0.9851. In that case, deeper fall could be seen back towards 0.9660 (the low since 13th August).
Until we see a convincing break from the triangle, our preferred strategy remains for long positions at the bottom of the range and shorts at the top.